ANDHRA PRADESH AGRICULTURAL PRODUCE (DEVELOPMENT AND WAREHOUSING) CORPORATIONS RULES, 1957

PREAMBLE

In exercise of the powers conferred by Sec. 52 of the Agricultural Produce (Development and Warehousing) Corporations Act, 1956 (Central Act 8 of 1956), the Governor of Andhra Pradesh hereby makes the following rules:

Rule - 1. Short title.--

These rules may be called the Andhra Pradesh Agricultural Produce (Development and Warehousing) Corporation Rules, 1957.

Rule - 2. Definitions.--

In these rules unless the context otherwise requires--

(i)       "Act" means the Agricultural Produce (Development and Warehousing) Corporation Act, 1956;

(ii)      "Board" means the Board of Directors of the Corporation;

(iii)     "Central Warehousing Corporation" means the Central Warehousing Corporation, established under Sec. 17;

(iv)    "Chairman" means the Chairman of the Board;

(v)      "Corporation" means the Andhra Pradesh State Warehousing Corporation, established under sub-section (1) of Sec 28;

(vi)    "Director" means the Managing Director of the Corporation;

(vii)   "Executive Committee" means the Executive Committee of the Corporation; (h) "Form" means a form annexed to these Rules; (i) "State Government" means the Government of Andhra Pradesh;

(viii)  "Section" means a section of the Act.

Rule - 3. Maximum limit of authorised share capital.--

The authorised capital of the Corporation shall be One Crore of Rupees.

Rule - [1][3-A. Manner of issuing shares:--

The shares of the Corporation shall from time to time be issued by notification in the Andhra Pradesh Gazette].

Rule - 4. Shares of the Corporation.--

The shares of the Corporation shall be movable property.

Rule - 5. Conditions of allotment of shares.--

Subject to the provisions of the Act and these rules, the shares shall be under the control of the Board of Directors of the Corporation.

Rule - 6. Share Register.--

(i)       The Corporation shall maintain at the head office a register of shares indicating the numbers of shares allotted to the Central Warehousing Corporation and the State Government and the dates of allotment of shares.

(ii)      In the shares register, a separate ledger shall be maintained in respect of the shares allotted to the Central Warehousing Corporation and the State Government.

Rule - 7. Share certificate.--

Every share certificate shall be issued under the common seal of the Corporation.

Rule - 8. Every shareholder entitled free of charge to one share certificate.--

The Central Warehousing Corporation and the State Government shall each be entitled, free of charge, to one certificate for all the shares issued in their names at a time.

Rule - 9. Renewal of share certificate.--

If any share certificate is worn-out or defaced, then upon production thereof to the head office of the Corporation, it may order the same to be cancelled and issue a new certificate or certificates in lieu thereof; if any share certificates is alleged to be lost or destroyed, then on receipt of intimation of the loss, the Corporation may issue free of charge a new certificate in lieu thereof.

Rule - 10. Corporation's lien shares.--

The Corporation shall have a first lien upon all shares issued to the Central Warehousing Corporation and the State Government and all dividends declared from time to time in respect of such shares.

Rule - 11. Additional functions that may be carried out by the Corporation.--

The Corporation, may with the consent of the Central Warehousing Corporation and the State Government, undertake such other functions as are conducive to the promotion of warehousing habits among agriculturists.

Rule - 12. Term of office of Directors.--

The term of the office of the directors shall be three years. It shall, however, be open to the Central Warehousing Corporation and the State Government to withdraw at any time any director or directors nominated by them and nominate other directors in their place for the unexpired period of the term of office for which the directors were originally nominated.

Rule - 13. Filling of casual vacancies among Directors.--

A casual vacancy on the Board shall be filled up by the authority competent to nominate and a director so nominated shall hold office for so long only as the director, whose place he fills, would have been entitled to hold office, if the vacancy had not occurred:

Provided that no casual vacancy occurring within three months of the date of expiry of the normal term of office of a director shall be filled under this rule.

Rule - 14. Remuneration payable to the Directors.--

The directors other than the Managing Director and official directors shall be entitled to receive travelling and halting allowances admissible to non-official members of Class I Committees.

Rule - [2][15. Manner of choosing three other Directors on the Executive Committee under Sec. 35(1)(c).--

Of the three directors to be choosen by the Corporation under Cl. (c) of sub-section (1) of Sec. 35, one shall be nominated by the Central Warehousing Corporation and two shall be nominated by the State Government, of whom one shall be the Director of Agriculture, if he is not the Chairman of the Board.]

Rule - 16. Deposit of moneys in a Scheduled Bank or Co-operative Bank.--

All moneys belonging to the Corporation shall be deposited in the Reserve Bank or the State Bank of India or in such Scheduled Bank or Co-operative Bank as may be approved for the purpose by the State Government to the credit of the Corporation.

Rule - 17. Maintenance of and operation upon Bank Account.--

(i)       All payments by or on behalf of the Corporation shall be made by cheques except for amounts not exceeding Rs. 100 which may be made in cash from the amount of imprest sanctioned for such purposes.

(ii)      Such cheques and all orders for making deposits or investments or for withdrawal of the same for disposal in any other manner of the funds of the Corporation shall be signed by the Managing Director or by any officer of the Corporation authorised by the Board in this behalf.

(iii)     No payment shall be made out of the accounts of the Corporation unless the expenditure is covered by the financial estimate referred to in sub-section (1) of Sec. 36 provided, however, that the Executive Committee may, as its discretion, authorise expenditure being incurred in anticipation of such estimate. The statement of expenditure so incurred shall be submitted to the Board at its next meeting.

(iv)    All monetary transactions shall be entered in the cash book as soon as they occur and attested by an officer of the Corporation, duly authorised in this behalf. The cash book shall be closed daily and completely checked by the Managing Director or the officer authorised by him in this behalf. At the end of each month, the Managing Director or the officer so authorised shall verify the cash book and the cash in hand and record a signed and dated certificate to that effect.

(v)      All payments by the Corporation shall be made on bills or other documents duly prepared and passed by the Managing Director or other officer authorised in this behalf. The said vouchers shall be stamped "paid" or so cancelled that they cannot be used a second time. They should then be kept serially numbered and produced at the time of audit.

Rule - 18. Deposit in Bank or investment in securities of surplus funds.--

(i)       Any funds of the Corporation not required for current expenditure may be placed in fixed deposit with the Reserve Bank of India or any Scheduled or Co-operative Bank approved in this behalf by the State Government or invested in the name of the Corporation in the securities of the Central Government or any State Government.

(ii)      The placing of money in fixed deposit and the investment thereof and the disposal of money so placed or invested shall require the sanction of the Executive Committee.

Rule - 19. Annual Statement of Accounts and Balance Sheet.--

The Board shall cause the books of the Corporation to be balanced on the last working day of the month of March in each year and the annual statement of accounts shall be set out as follows:

(a)      A balance sheet in form 'A'

(b)      A profit and loss account for the year in form 'B'.